3 Useful ‘How-To’ Guides Can Help You Master the Crypto Markets
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| By Beth Canova |
It’s Memorial Day in the United States. As such, our Weiss Ratings team is spending the day with their families. I hope if you’re in the U.S., you’ve been able to take the long weekend to spend time with your loved ones, as well.
Of course, the crypto market never sleeps, and I will be monitoring the markets for any urgent updates.
On that note, I would like to take a moment to make sure you didn’t miss these three helpful crypto how-to’s. After all, when the market goes for its next explosive rally, you’ll want to be ready to act.
These nuggets will help you prepare:
Turn Cash Into Crypto With Centralized Exchanges
The biggest barrier to new investors is just how to turn their dollars — or any fiat currency — into crypto tokens. Sure, ETFs can be a handy tool, but ETF offerings are extremely limited.
Luckily, setting up a centralized exchange account is fairly easy. And since U.S.-based exchanges are regulated, they offer more protections than the Wild West of decentralized finance.
Think of it like a “get your feet wet” option before diving into the deep end. And in this helpful issue, I break down how you can get started for yourself.
Create Your Crypto Keys in 6 Easy Steps
While centralized exchanges can hold your cryptos for you once you’ve bought them, it’s not something we recommend.
Why? Because at the core of crypto ideology is the belief that you — and only you — should be in control of your financial future. And if a centralized exchange is holding your crypto, do you even really own it?
That’s why in this guide, I walk you through how to set up your own crypto wallet. A wallet lets you be fully in control of your own assets, and the keys generated by your wallet ensure no one can ever touch your assets without your express approval.
Find Extra Security in Hard Wallets
Not all wallets are the same, however. And while soft wallets — i.e., wallets connected to the internet — do offer more security than holding your crypto on an exchange, they aren’t foolproof.
Indeed, if you’re not looking to trade actively and plan on holding your assets long term, a hard wallet may be a good alternative. Since they’re disconnected from the internet, these devices offer the best security for your cryptos.
That’s why in this issue, I break down the three most popular hard wallets so you can find one that works best for you.
That’s all for today.
We will be back to our regularly scheduled program tomorrow, so make sure to pop back in for Dr. Bruce Ng’s coverage on the crypto market.
Best,
Beth Canova
Crypto Managing Editor
